The words “low-cost” and “auto insurance” really shouldn’t be used in the same sentence, especially when trying to find the lowest insurance rates for high school students. In an attempt to save some money, let’s teach you some of the things that have an effect on insurance premiums, and find a few ways to shave a little off your next policy.
The type of vehicle needing coverage is probably the most important factor in finding the best cheap insurance for high school students. Vehicles with economical engines, good safety features, or low incidents of liability claims will cost quite a bit less to insure than higher performance models. The list below outlines car insurance rates for a number of the cheapest automobiles to buy coverage for.
|Make and Model||Estimated Cost for Full Coverage|
|Hyundai Elantra GLS Touring Station Wagon||$7,350|
|Honda CR-V EX 4WD||$7,423|
|Honda Accord EX-L 4-Dr Sedan||$7,888|
|Ford Escape Limited 4WD||$7,895|
|Ford F-150 XL Super Cab 2WD||$8,182|
|Jeep Wrangler Sport Islander Package 4WD 2-Dr||$8,190|
|Ford Explorer XLT AWD||$8,256|
|Dodge Grand Caravan CV||$8,265|
|Volkswagen Jetta SE 2.5 Station Wagon||$8,422|
|Toyota Tacoma 2WD||$8,647|
|Ford Fusion S 4-Dr Sedan||$8,720|
|Chevrolet Equinox LS 2WD||$8,729|
|Chevrolet Silverado LT Extended Cab 4WD||$8,720|
|Toyota RAV4 Sport 4WD||$8,730|
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Prices above based on single female driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include claim-free, and safe-driver. Rates do not factor in specific zip code location which can decrease or increase price quotes significantly.
Based on these rates, you can expect makes and models like the Hyundai Elantra, Honda CR-V, Honda Accord, Ford Escape, and Toyota Prius are most likely going to be some of the cheapest vehicles to insure for teenagers. Rates will trend higher because of the fact that there is more claim risk for high school students, but overall those makes and models will have the best rates compared to all other vehicles.
For teenagers, one of the largest components that help determine the cost of insurance is where your residence is in Tampa. Cities with more crime and/or more people are more likely to pay higher prices, whereas areas with less people or fewer weather incidents benefit from lower prices.
The illustration below shows the priciest cities in Florida for high school students to buy car insurance in. Tampa is listed at #6 having an annual price of $2,610 for the average insurance policy, which is about $218 per month.
|5||West Palm Beach||$2,705|
|20||Port St. Lucie||$1,975|
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Prices are comparative as the specific zip code location can revise premiums greatly.
Buying coverage from the best insurer can be difficult considering how many different companies sell coverage in Tampa. The company ratings in the next section could help you decide which companies you want to consider to insure your vehicles. These ratings are only comprised of companies with a nationwide focus, so companies that focus mainly on Florida business are not taken into consideration for the list.
Top 10 Large Car Insurance Companies in Tampa Ranked by Claims Service
- State Farm
- Liberty Mutual
- American Family
- Titan Insurance
- AAA Insurance
Top 10 Large Car Insurance Companies Overall in Tampa
- Mercury Insurance
- AAA Insurance
- State Farm
- The Hartford
- Safeco Insurance
Discount Tampa auto insurance
Insurance companies that offer quotes for high school students could also offer policy discounts that can lower rates by 40% or more if you are eligible for them. A few of the larger companies and the discounts they provide are detailed below.
- GEICO has savings for military active duty, anti-theft, driver training, seat belt use, membership and employees, defensive driver, and federal employee.
- SAFECO has discounts for anti-theft, teen safety rewards, accident prevention training, anti-lock brakes, drive less, multi-car, and safe driver.
- State Farm offers premium reductions for driver’s education, Drive Safe & Save, anti-theft, good driver, good student, student away at school, and multiple policy.
- MetLife offers discounts including claim-free, good driver, multi-policy, good student, accident-free, and defensive driver.
- 21st Century policyholders can earn discounts including air bags, automatic seat belts, defensive driver, student driver, teen driver, and good student.
- Progressive may include discounts for online quote discount, multi-vehicle, homeowner, online signing, and continuous coverage.
The example below compares insurance costs with and without discounts applied to the premium. The premiums are based on a male driver, no violations or claims, Florida state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows the price with no discounts. The lower bar shows the rates with paperless filing, good student, continuous coverage, vehicle safety, paid-in-full, and passive restraint discounts applied. When drivers qualify for the discounts, the average savings per year on insurance for high school students is 28% or $676.
Your cheap policy may actually be overpriced
Tampa insurance rates are determined by lots of factors which can significantly increase or decrease the price you pay. Simply having another birthday, buying a home instead of renting, or getting a reckless driving citation can produce rate changes that can cause some rates to be cheaper than competitors.
Not only may things change on your end, but auto insurance companies change prices every year to ensure their profitability. A period of higher than normal claims can cause a rate increase, while lower claim expenses may produce more affordable Tampa car insurance rates.
To help illustrate this point, the data below shows the cheapest car insurance in Tampa, FL for a 45-year-old female driver with no prior claims, no tickets, and excellent credit. When quoting prices based on her current rating profile, USAA may offer the lowest car insurance rates in Tampa at $1,564 a year. This is $884 less than the average policy premium paid by Florida drivers of $2,448. Amica, Electric, Progressive, and Travelers are the rest of the top five cheapest Tampa, FL auto insurance companies.
The next chart shows rates after we give the driver from the first example a chargeable accident, a lower credit score, and a few traffic violations. Because each insurer has their own unique process for determining rates, getting updated rate quotes may now present a different list of affordable Tampa car insurance companies as shown below.
USAA now has the cheapest insurance rate in Tampa, FL with Allied, State Farm, Esurance, and GEICO also having competitive pricing. This shows why it is critical to compare as many rates as possible when trying to get the most economical car insurance rates for high school students. Insurance prices are determined by many factors and can increase or decrease at any time, so the most economical company two years ago may now be wasting a lot of money.